Ban Seng Teh Sells 989 Shares of Seagate Technology (NASDAQ:STX) Stock

Key Points

• Seagate EVP Ban Seng Teh sold 989 shares on June 12 at an average price of $880.19, for proceeds of about $870,508. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Seagate’s stock has been surging, recently trading near $1,018.80 with a 52-week high of $1,032.52, as investors react to strong demand and improving HDD pricing tied to AI data center growth.
• Fundamentals and analyst sentiment remain positive: Seagate beat last quarter’s earnings and revenue estimates, raised guidance, and has received multiple price-target increases, including recent bullish calls from Bank of America and Loop Capital.

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) EVP Ban Seng Teh sold 989 shares of the company's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $880.19, for a total value of $870,507.91. Following the sale, the executive vice president directly owned 4,290 shares of the company's stock, valued at $3,776,015.10. The trade was a 18.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ban Seng Teh also recently made the following trade(s):

• On Wednesday, June 10th, Ban Seng Teh sold 663 shares of Seagate Technology stock. The shares were sold at an average price of $821.86, for a total transaction of $544,893.18.
• On Wednesday, May 13th, Ban Seng Teh sold 7,557 shares of Seagate Technology stock. The stock was sold at an average price of $813.45, for a total transaction of $6,147,241.65.
• On Thursday, May 14th, Ban Seng Teh sold 8,003 shares of Seagate Technology stock. The stock was sold at an average price of $817.28, for a total transaction of $6,540,691.84.

Seagate Technology Stock Performance

NASDAQ:STX traded up $87.76 during midday trading on Monday, reaching $1,018.80. The stock had a trading volume of 5,765,341 shares, compared to its average volume of 4,086,535. The stock has a market capitalization of $228.45 billion, a P/E ratio of 96.66 and a beta of 2.04. Seagate Technology Holdings PLC has a 1-year low of $127.61 and a 1-year high of $1,032.52. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.33 and a quick ratio of 0.85. The firm's fifty day simple moving average is $709.54 and its 200-day simple moving average is $477.38.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share for the quarter, topping analysts' consensus estimates of $3.51 by $0.59. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The business's revenue was up 44.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 EPS. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. On average, equities research analysts forecast that Seagate Technology Holdings PLC will post 14.14 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Wednesday, June 24th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, June 24th. Seagate Technology's payout ratio is currently 28.08%.

Key Seagate Technology News

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Morgan Stanley boosted Seagate’s price target to $1,035 and reiterated an Overweight rating, signaling confidence that HDD pricing and demand are strengthening. Benzinga
• Positive Sentiment: Analysts said Seagate and Western Digital should benefit from improving HDD demand, which supports the idea that storage supply is tightening just as AI-related data needs are rising. Article
• Positive Sentiment: Multiple market notes highlighted Seagate as an AI infrastructure beneficiary, with tighter memory and storage supply helping drive interest in STX alongside other memory names. Zacks
• Positive Sentiment: Seagate’s recent debt redemption removed about $150.7 million of exchangeable notes, improving the balance sheet and reducing leverage risk. Article
• Neutral Sentiment: Commentary on Seagate’s long-term performance and whether the stock can reach $1,000 in 2026 may keep investor attention high, but it is mostly sentiment-driven rather than a new fundamental catalyst. MSN
• Neutral Sentiment: Broader tech and AI stock strength, helped by a market rally and relief over Middle East developments, is also providing a favorable backdrop for STX. Article

Wall Street Analyst Weigh In

STX has been the subject of several research analyst reports. Bank of America boosted their price objective on Seagate Technology from $900.00 to $1,000.00 in a research report on Monday, June 8th. Rosenblatt Securities boosted their price objective on Seagate Technology from $500.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Loop Capital boosted their price objective on Seagate Technology from $950.00 to $1,140.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Wedbush boosted their price objective on Seagate Technology from $700.00 to $825.00 and gave the stock an "outperform" rating in a research report on Monday, April 27th. Finally, BNP Paribas Exane boosted their price objective on Seagate Technology from $530.00 to $860.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Seagate Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $831.79.

Hedge Funds Weigh In On Seagate Technology

Large investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC raised its holdings in Seagate Technology by 124.4% in the 4th quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider's stock valued at $27,000 after acquiring an additional 51 shares in the last quarter. Rakuten Securities Inc. raised its holdings in Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock valued at $27,000 after acquiring an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new position in Seagate Technology in the 4th quarter valued at approximately $28,000. Avion Wealth raised its holdings in Seagate Technology by 343.5% in the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider's stock valued at $28,000 after acquiring an additional 79 shares in the last quarter. Finally, Concord Wealth Partners acquired a new position in Seagate Technology in the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 92.87% of the company's stock.

About Seagate Technology

Seagate Technology NASDAQ: STX is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm's product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate's products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.

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